English to Russian Bus/Financial Investment / Securities

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It is obvious that in a world of uncertainty, risk sharing leads to better outcomes for all parties. In our analysis, we have considered risk sharing that takes the form of investment in production. One might argue that the same outcome could be achieved with ****investment in claims against incomes****, rather than in oil output—that is, in state-contingent assets. In other words, the “World” could buy securities that pay off in the state and sell securities that pay off in the state. Russia would be on the other side of the transaction, and risks could thus be hedged financially. Thus financial diversification may be an alternative means of achieving a convergence of interests.